Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors cut its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 94.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,650 shares of the company's stock after selling 138,135 shares during the period. Captrust Financial Advisors' holdings in Chord Energy were worth $894,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CHRD. Barclays PLC lifted its holdings in shares of Chord Energy by 3.7% in the 3rd quarter. Barclays PLC now owns 64,711 shares of the company's stock worth $8,427,000 after acquiring an additional 2,318 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Chord Energy by 5.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company's stock worth $657,000 after purchasing an additional 284 shares during the last quarter. Tallon Kerry Patrick bought a new position in shares of Chord Energy during the fourth quarter valued at approximately $204,000. Merit Financial Group LLC purchased a new stake in shares of Chord Energy in the fourth quarter worth approximately $553,000. Finally, Albert D Mason Inc. lifted its stake in shares of Chord Energy by 70.9% during the 4th quarter. Albert D Mason Inc. now owns 5,543 shares of the company's stock worth $648,000 after acquiring an additional 2,299 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several research analyst reports. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Citigroup lowered their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company reduced their price target on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Piper Sandler dropped their target price on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus price target of $153.92.

Chord Energy Stock Down 2.3%

NASDAQ CHRD traded down $2.09 during midday trading on Thursday, hitting $88.45. 81,842 shares of the company traded hands, compared to its average volume of 979,334. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market cap of $5.11 billion, a PE ratio of 4.57, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. The company's 50-day simple moving average is $97.36 and its 200-day simple moving average is $111.00.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.10 earnings per share. As a group, equities research analysts forecast that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.88%. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president now owns 21,277 shares of the company's stock, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.